2015-02-10T07:27:30-06:00 2014-06-30 Grant Thornton LLP 200 South Orange Avenue Suite 2050 Orlando FL 32801 990 2013-07-01 591237047 Saint Leo University % ERIC WEEKS SAIN 3525888215 33701 State Road 52 Suite Saint Leo FL 335746665 ARTHUR F KIRK JR PRESIDENT 3525888920 2015-02-04 true Dawn M Olivardia P00059252 3525888920 2015-02-02 2013 2016-02-25 16:41:14Z Arthur F Kirk Jr 33701 State Road 52 Saint Leo FL 335746665 208025196 false 0928 X www.saintleo.edu X 1965 FL SAINT LEO UNIVERSITY IS A CATHOLIC, LIBERAL ARTS-BASED UNIVERSITY SERVING PEOPLE OF ALL FAITHS. 34 34 3189 0 0 2981255 3639806 166967339 177407038 1600363 2771929 1696877 1785137 173245834 185603910 18194197 20733127 0 0 86222596 92452932 0 0 2512109 57461512 58655175 161878305 171841234 11367529 13762676 213805746 231015634 70830090 68941843 142975656 162073791 X SAINT LEO UNIVERSITY IS A CATHOLIC, LIBERAL ARTS-BASED UNIVERSITY SERVING PEOPLE OF ALL FAITHS. ROOTED IN THE 1,500-YEAR-OLD BENEDICTINE TRADITION, THE UNIVERSITY SEEKS BALANCED GROWTH IN MIND, BODY AND SPIRIT FOR ALL MEMBERS OF ITS COMMUNITY. ON ITS HOME CAMPUS AND MANY EXTENSION CENTERS, SAINT LEO UNIVERSITY OFFERS A PRACTICAL, EFFECTIVE MODEL FOR LIFE AND LEADERSHIP IN A CHALLENGED WORLD, A MODEL BASED ON STEADFAST, MORAL CONSCIOUSNESS THAT RECOGNIZES THE DIGNITY, VALUE AND GIFTS OF ALL PEOPLE. TO ACCOMPLISH ITS MISSION, THE UNIVERSITY COMMUNITY CREATES A STUDENT-CENTERED ENVIRONMENT IN WHICH LOVE OF LEARNING IS OF PRIME IMPORTANCE. MEMBERS OF THE COMMUNITY ARE EXPECTED TO EXAMINE AND EXPRESS THEIR OWN VALUES, LISTEN RESPECTFULLY TO AND RESPOND TO THE OPINIONS OF OTHERS, SERVE THE COMMUNITY IN WHICH THEY LIVE, WELCOME OTHERS INTO THEIR LIVES AND CARE FOR ALL OF GOD'S CREATIONS. false false 611430 124921160 20733127 164549903 SAINT LEO UNIVERSITY PROVIDES A CONVENTIONAL ON-CAMPUS COLLEGE EDUCATION AS WELL AS EXTENSION PROGRAMS INCLUDING MILITARY EDUCATION AND OTHER CONTINUING EDUCATION COURSES. 611710 19021984 14818495 AUXILIARY ENTERPRISES OF THE UNIVERSITY PROVIDE CERTAIN CUSTOMARY SERVICES SUCH AS HOUSING, FOOD SERVICE, AND VARIOUS STUDENT ACTIVITIES FOR THE BENEFIT OF THE STUDENTS OF THE UNIVERSITY. 143943144 true true false false false false false true false true true false false false true true true false true false false false false false true false false false true true true false false false false false true false false false false true false false false false false false false false true 21175 0 true 3189 true false false false false false true true false false false false X 34 34 false false false false false false false true true false false true true true true true true true true false CA X ERIC WEEKS 3525888215 PO BOX 6665 SAINT LEO FL 33574 ROBERTA BAILEY SR CURRENT TRUSTEE 1.0 X 0 0 0 NOEL BOEKE CURRENT TRUSTEE 1.0 X 0 0 0 ANTHONY BORRELL CURRENT TRUSTEE 1.0 X 0 0 0 CYNTHIA BRANNEN CURRENT TRUSTEE/CHAIR 1.0 X X 0 0 0 ROBERT BUCKNER CURRENT TRUSTEE 1.0 X 0 0 0 FATHER ISAAC CAMACHO CURRENT TRUSTEE 1.0 X 0 0 0 GLEN GREENFELDER CURRENT TRUSTEE 1.0 X 0 0 0 DENNIS HAYES CURRENT TRUSTEE 1.0 X 0 0 0 DANNY HUNLEY CURRENT TRUSTEE 1.0 X 0 0 0 VIRGINIA JUDGE CURRENT TRUSTEE 1.0 X 0 0 0 THAMIR AR KADDOURI JR CURRENT TRUSTEE/SECRETARY 1.0 X X 0 0 0 PAUL LEHNER CURRENT TRUSTEE 1.0 X 0 0 0 WILLIAM J LENNOX JR CURRENT TRUSTEE 1.0 X 0 0 0 TERRENCE LINNERT CURRENT TRUSTEE 1.0 X 0 0 0 MICHAEL LOMBARDY CURRENT TRUSTEE 1.0 X 0 0 0 ROBERT N LYNCH CURRENT TRUSTEE 1.0 X 0 0 0 NADEEM MAZHAR CURRENT TRUSTEE 1.0 X 0 0 0 SHEILA MCDEVITT CURRENT TRUSTEE 1.0 X 0 0 0 D DEWEY MITCHELL CURRENT TRUSTEE 1.0 X 0 0 0 ALFREDO MOLINA CURRENT TRUSTEE 1.0 X 0 0 0 ROBERT F MORRIS CURRENT TRUSTEE 1.0 X 0 0 0 DENNIS MULLEN CURRENT TRUSTEE/VICE CHAIR 1.0 X X 0 0 0 MARVIN MULLIGAN CURRENT TRUSTEE 1.0 X 0 0 0 MARY O'KEEFE CURRENT TRUSTEE 1.0 X 0 0 0 ROBERT PADALA CURRENT TRUSTEE 1.0 X 0 0 0 MARY PALAZZO CURRENT TRUSTEE 1.0 X 0 0 0 PETER POWERS CURRENT TRUSTEE 1.0 X 0 0 0 BRIAN QUINN CURRENT TRUSTEE 1.0 X 0 0 0 WILLIAM REAGAN CURRENT TRUSTEE 1.0 X 0 0 0 DANIEL RODRIGUEZ CURRENT TRUSTEE 1.0 X 0 0 0 THOMAS SCHRADER CURRENT TRUSTEE 1.0 X 0 0 0 KATHRYN SIMPSON CURRENT TRUSTEE 1.0 X 0 0 0 PAT THOMPSON CURRENT TRUSTEE 1.0 X 0 0 0 SCOTT TONN CURRENT TRUSTEE 1.0 X 0 0 0 ARTHUR F KIRK PRESIDENT 60.0 X 500707 0 36412 JEANNE PLECENIK CFO 60.0 X 218100 0 28953 EDWARD DADEZ VP 60.0 X 242390 0 27708 KATHRYN MCFARLAND VP 60.0 X 234242 0 28391 MARIBETH DURST VP 60.0 X 243994 0 27083 MICHAEL NASTANSKI DEAN 60.0 X 213420 0 24268 Passard Dean ASSOCIATE PROFESSOR 60.0 X 166023 0 16316 1818876 0 189131 84 false true false COLLEGEDEGREESCOM LLC 412 MAIN ST STE 500 HOUSTON TX 77002 LEADS 888930 SANDRO SIERRA 20737 GREAT LAUREL AVE TAMPA FL 33647 EQUIPMENT 375027 VANTAGE MEDIA LLC 2101 ROSECRANS AVE STE 2000 EL SEGUNDO CA 90245 LEADS 240700 LENDINGTREE LLC 11115 RUSHMORE DR CHARLOTTE NC 28277 LEADS 182200 KPMG LLP 100 NORTH TAMPA ST TAMPA FL 33602 AUDITOR 180000 14 154368 1104194 2381244 181611 3639806 TUITION AND FEES 162590837 162590837 SALE OF AUXILIARY ENTERPRISES 14816201 14816201 177407038 1221226 1221226 0 0 44247 13429 30818 0 30818 30818 23714457 22163754 1550703 1550703 1550703 37062 154368 244103 -207041 -207041 0 0 POOL MEMBERSHIP 713940 2294 2294 ALL OTHER REVENUES 900099 1959066 1959066 1961360 185603910 179368398 2595706 0 20733127 20733127 0 0 1017534 1017534 0 73078705 62415396 9262941 1400368 2826214 2374020 395670 56524 9715156 7648352 1795485 271319 5815323 4986599 722367 106357 0 100871 100871 212355 212355 0 0 0 17034818 13890119 2960802 183897 4895622 4846665 16400 32557 6907565 5256356 1407007 244202 2493408 932839 1520310 40259 0 2118608 1914543 186707 17358 2286327 1857129 355944 73254 0 573495 507263 56881 9351 1111129 1111129 0 9209401 8472367 737034 1329933 1329933 ENTERTAINMENT 1187843 1039219 110675 37949 CREDIT CARD FEES 797767 174549 616754 6464 EDUCATIONAL MATERIAL 723938 723938 DUES/SUBSCRIPTIONS 1061708 627175 402283 32250 6610387 5543488 1066899 171841234 143943144 25385981 2512109 17635710 19755239 0 0 3802574 3171120 5142677 6369630 304800 299288 0 0 386228 0 106391 166115 2578055 3058056 192729702 56638204 135942307 136091498 39964641 53286625 3277779 3653218 439798 481808 0 0 4224786 4683037 213805746 231015634 12463865 13204416 993693 91161 513093 396411 56764656 55055074 0 0 0 0 0 0 0 0 94783 194781 70830090 68941843 X 132401427 148107896 2511797 3965301 8062432 10000594 142975656 162073791 213805746 231015634 X 13762676 5882948 -547489 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1574246 X X false 39757379 6255016 7263515 261641 53014269 31619776 5245438 3121530 229366 39757378 25852008 5234488 728794 195513 31619777 5476661 20266968 251023 142644 25852008 5217908 176951 272511 190709 5476661 0.82000 0.18000 true false 5716983 5716983 109324111 21028972 88295139 1392048 516307 875741 32340299 17929083 14411216 43956261 17163842 26792419 136091498 0 DEPOSITS HELD FOR OTHERS 194781 194781 X 171981952 5882948 -289957 5592991 166388961 19214949 19214949 185603910 152883817 257532 257532 152626285 19214949 19214949 171841234 Schedule D, Part III, Line 4 FINE ART WORK ART WORK: The majority of the art work are prints by Yankel Ginzburg. The art work is exhibited throughout the campus buildings. Schedule D, Part V, Line 4 ENDOWMENT FUNDS The majority of the Endowment is for the purpose of providing scholarships. Other endowments are for items such as library materials and service trips. Schedule D, Part XII, Line 2D RECONCILIATION OF REVENUE PER AUDITED FINANCIAL STATEMENTS WITH REVENUE PER RETURN: Rental Expense 13,429 Fundraising Expense 244,103 Unrealized Loss on Interest Rate Swap (547,489) --------- Total (289,957) Schedule D, Part XIII, Line 4B University funded scholarship allowance 19,214,949 Schedule D, Part XIII, Line 2D RECONCILIATION OF EXPENSES PER AUDITED FINANCIAL STATEMENTS WITH EXPENSES PER RETURN: Rental Expense 13,429 Fundraising Expense 244,103 -------- Total 257,532 Schedule D, Part XIII, Line 4B University funded scholarship allowance 19,214,949 SCHEDULE D, PART X, LINE 2 FIN 48 (ASC 740) AUDITED FINANCIAL STATEMENT FOOTNOTE FASB ASC SUBTOPIC 740-10, INCOME TAXES - OVERALL, PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, AND PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, AND DISCLOSURE. THE UNIVERSITY BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ITS TAX POSITIONS TAKEN AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT COULD RESULT IN MATERIAL IMPACT TO THE FINANCIAL STATEMENTS. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 Yes, the nondiscriminatory policy ads run in September in newspapers in every University location. Schedule E, Part I, Line 6a THE COLLEGE PARTICIPATES IN NUMEROUS FEDERAL AND STATE PROGRAMS, WHICH ARE LISTED BELOW. THESE PROGRAMS ARE AUDITED ANNUALLY IN ACCORDANCE WITH RELATED REGULATIONS. STUDENT FINANCIAL ASSISTANCE U.S. DEPARTMENT OF EDUCATION: FEDERAL PELL GRANT PROGRAM FEDERAL WORK STUDY PROGRAM FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS FEDERAL DIRECT STUDENT LOAN PROGRAM FEDERAL PERKINS LOAN PROGRAM ACADEMIC COMPETITIVENESS GRANT NATIONAL SCIENCE & MATHEMATICS ACCESS TO RETAIN TALENT GRANT BYRD HONORS SCHOLARSHIP STATE FINANCIAL ASSISTANCE FLORIDA DEPARTMENT OF EDUCATION AND COMMISSIONER OF EDUCATION: FLORIDA RESIDENT ACCESS GRANT FLORIDA STUDENT ASSISTANCE GRANT FLORIDA BRIGHT FUTURES SCHOLARSHIP PROGRAM SCHOLARSHIPS FOR CHILDREN AND SPOUSES OF DECEASED OR DISABLED VETERANS AND SERVICE MEMBERS MINORITY TEACHER SCHOLARSHIP PROGRAM FLORIDA COMMISSIONER OF EDUCATION SOS Golf 14147 11067 3080 6031 1681 Alumni Weekend 16020 1175 14845 40725 4247 22456 10 161263 142126 19137 24769 16620 127574 191430 154368 37062 71525 20867 151711 244103 -207041 true Annual 58 100479 Athletics 257 2607755 Endowments 142 375564 Merit 5261 13178907 Need Based 655 2174906 Other Educational 423 2360053 EMPLOYEE FRNG BNFT Schedule I, Part I, Line 2 Description of organization's procedures for monitoring use of grants Individuals requesting any form of financial aid must complete personal financial statements and if they are dependents, they must also provide parental or guardian financial information. Only individuals who are enrolled in the school at the time of disbursements are considered for financial aid. X X X true true X X X X X false false false false false false false false false ARTHUR F KIRK PRESIDENT 369373 0 0 0 131334 0 22950 0 13462 0 537119 0 0 0 JEANNE PLECENIK CFO 202541 0 15000 0 559 0 17737 0 11216 0 247053 0 0 0 EDWARD DADEZ VP 202104 0 16739 0 23547 0 19769 0 7939 0 270098 0 0 0 KATHRYN MCFARLAND VP 189742 0 27500 0 17000 0 18619 0 9772 0 262633 0 0 0 MARIBETH DURST VP 196494 0 30000 0 17500 0 19300 0 7783 0 271077 0 0 0 MICHAEL NASTANSKI DEAN 180920 0 15000 0 17500 0 16412 0 7856 0 237688 0 0 0 Passard Dean ASSOCIATE PROFESSOR 166023 0 0 0 0 0 8655 0 7661 0 182339 0 0 0 Schedule J, Part I, Line 1 DR. ARTHUR KIRK HAS THE FOLLOWING TAXABLE ALLOWANCES: LIFE, DISABILITY, LT CARE INSURANCE 3,141 HOUSING ALLOWANCE 30,000 PERSONAL FINANCIAL SERVICES 9,000 TUITION ASSISTANCE FOR FAMILY 31,458 AUTOMOBILE ALLOWANCE 9,750 SOCIAL CLUB DUES 8,056 THE HOUSE ALLOWANCE IS FOR KEEPING DR. KIRK'S HOUSE OPEN FOR UNIVERSITY FUNCTIONS. JEANNE PLECENIK HAS THE FOLLOWING TAXABLE ALLOWANCES: MOVING ALLOWANCE 559 EDWARD DADEZ HAS THE FOLLOWING TAXABLE ALLOWANCES: REPAYMENT OF LOAN 8,261 SCHEDULE J, LINE 3 OFFICES AND POSITIONS FOR WHICH PROCESS WAS USED, AND YEAR PROCESS WAS BEGUN THE UNIVERSITY HIRES AN INDEPENDENT CONSULTANT TO REVIEW AND MAKE RECOMMENDATIONS FOR THE PRESIDENT'S COMPENSATION PACKAGE BASED OFF OF INDUSTRY, TRENDS, ETC. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DECIDES WHAT THE PRESIDENT'S COMPENSATION WILL BE AFTER REVIEWING THE CONSULTANT'S WORK AND RECOMMENDATION. A Higher Educational Facilites Financing Authority 942567020 2012-11-29 30000000 See Part V false false true B Higher Educational Facilites Financing Authority 942567020 2012-11-29 27685000 See Part V false false true A 30000000 0 30000000 0 0 0 0 0 0 0 0 0 false false true true B 27685000 0 27685000 0 0 0 0 0 0 0 0 0 false false true true A false false false false 0 B false false false false 0 A true true false 0 false 0 false B true true false 0 false 0 false A B SCHEDULE K, PART I, COLUMN F DESCRIPTION OF PURPOSE BONDS A AND B WERE USED TO RE-FINANCE FOUR PRIOR YEAR BONDS THAT WERE ORIGINALLY USED FOR CONSTRUCTIONS OF STUDENT RESIDENTIAL BUILDINGS AND EDUCATIONAL FACILITIES. SCHEDULE K, PART II, LINE 3, COLUMN A AND B PROCEEDS FROM ALL BOND ISSUES WERE USED TO PAY OFF FOUR PRIOR YEAR BONDS. Dr Edward W Dadez VP SEE PART V X 68000 34000 false false false 34000 SCHEDULE L DR. ARTHUR F. KIRK, JR. - PRESIDENT THE PURPOSE OF THE SECURED BENEFIT PLAN IS TO ATTRACT AND RETAIN QUALIFIED EMPLOYEES BY SHARING OWNERSHIP OF AN INSURANCE POLICY ON THE ELIGIBLE INDIVIDUAL'S LIFE PAID FOR BY THE EMPLOYER. DR. KIRK IS THE FIRST OWNER OF THE POLICY AND SAINT LEO UNIVERSITY IS THE SECOND OWNER. AT THE TERMINATION OF THE POLICY OR PAYMENT OF DEATH BENEFITS THE UNIVERSITY RECOVERS ALL ITS COST IN THE TRANSACTIONS WITH INTERESTED PERSONS LIFE INSURANCE POLICY. SCHEDULE L, PART II LOANS TO INTERESTED PERSONS DR. EDWARD W. DADEZ - VP STUDENT SERVICES THE LOAN TO DR. DADEZ IS AN AGREEMENT THAT SAINT LEO UNIVERSITY ENTERED SO THAT THEY WERE ABLE TO RETAIN HIS SPECIALTY AND KNOWLEDGE DEALING WITH OUR MILITARY AND CIVILIAN CENTERS. THE LOAN HAS A REPAYMENT PROVISION THAT PROTECTS SAINT LEO'S INTERESTS. X 1 28264 Fair Market Value X 2 124000 Fair Market Value X Plane Tickets 14 5600 Fair Market Value X Furniture 75 23747 Fair Market Value false true true Schedule M, Part I, Line 32a Third Party Assistance of Noncash Contributions A brokerage firm is used to sell donated assets. Form 990, Part VI, Line 11b Description of process used to review Form 990 THE BOARD WILL RECEIVE A "FINALIZED" DRAFT COPY OF THE 990 AHEAD OF THE FEBRUARY BOARD MEETINGS. DURING THE BOARD MEETING THE MANAGEMENT TEAM WILL BRIEFLY DISCUSS AND DESCRIBE THE 990 AND WILL TAKE COMMENTS AND QUESTIONS RELATED TO THE DRAFT. THE BOARD WILL GET TO VOTE ON APPROVAL, AND ONCE APPROVED, SAINT LEO UNIVERSITY WILL SUBMIT THE 990 TO THE IRS. Form 990, Part VI, Line 12c Description of process to monitor transactions for conflicts of interest UNIVERSITY MEMBERS SHALL AVOID FAVORITISM AND ANY POTENTIAL CONFLICT OF INTEREST OR APPEARANCE OF A CONFLICT OF INTEREST THROUGH THE FOLLOWING REQUIREMENTS: A. TRUSTEES DUTIES: ELEMENTS OF A CONFLICT. A TRUSTEE HAS A CONFLICT OF INTEREST WHENEVER THE TRUSTEE OR A FAMILY MEMBER OR A BUSINESS ASSOCIATED WITH A TRUSTEE OR A FAMILY MEMBER (INSOFAR AS MAY BE KNOWN TO THE TRUSTEE) HAS AN EXISTING OR POTENTIAL FINANCIAL OR OTHER INTEREST IN A MATTER PENDING BEFORE THE BOARD OF TRUSTEES THAT MIGHT REASONABLY BE EXPECTED TO IMPAIR THE TRUSTEE'S INDEPENDENCE OF JUDGMENT OR OBJECTIVITY IN THE DISCHARGE OF GOVERNANCE RESPONSIBILITIES. "BUSINESS ASSOCIATES WITH A TRUSTEE" MEANS AN ORGANIZATION, CORPORATION, PARTNERSHIP, PROPRIETORSHIP OR OTHER BUSINESS ENTITY WITH RESPECT TO WHICH EITHER THE TRUSTEE OR (INSOFAR AS MAY BE KNOWN TO THE TRUSTEE) A MEMBER OF THE TRUSTEE'S FAMILY: A) RECEIVES COMPENSATION IN EXCESS OF $500 IN ANY MONTH OR HAS ANY CONTRACTUAL RIGHT TO FUTURE INCOME IN EXCESS OF $6,000 PER YEAR EXCLUDING COMPENSATION FROM THE UNIVERSITY, ANY GOVERNMENTAL SOURCE, INVESTMENT OR SAVINGS INCOME, RETIREMENT OR INSURANCE BENEFITS OR ALIMONY; B) SERVES AS AN OFFICER, DIRECTOR, PARTNER, OR EMPLOYEE; C) HOLDS A FINANCIAL INTEREST VALUED IN EXCESS OF $10,000. B. BOARD RECUSAL: IMPLICATIONS OF RECUSAL. CONFLICT OF INTEREST COMES IN MANY FORMS AND CANNOT BE AVOIDED ENTIRELY. RECUSAL ON A PARTICULAR MATTER BECAUSE OF A CONFLICT DOES NOT REFLECT ADVERSELY ON THE INVOLVED TRUSTEE. RATHER, IT IS SIMPLY RECOGNITION THAT, IN A COMPLEX AND INTERCONNECTED SOCIETY, CONFLICTS WILL OCCUR. WHEN THIS HAPPENS, RECUSAL IS NECESSARY TO ASSURE THAT A TRUSTEE'S INDEPENDENCE OF JUDGMENT IS NOT COMPROMISED, THAT THE PUBLIC'S CONFIDENCE IN THE INTEGRITY OF THE BOARD OF TRUSTEES IS PRESERVED, AND THAT THE UNIVERSITY'S PUBLIC MISSION IS PROTECTED. C. CONFLICT OF INTEREST AND RECUSAL PROCEDURES: REVIEW OF PROCEDURES: THE BOARD OF TRUSTEES, WITH THE ASSISTANCE OF THE UNIVERSITY COUNSEL, SHALL REVIEW ANNUALLY AT A BOARD MEETING THE REQUIREMENTS AND PROCEDURES PROVIDED IN THIS POLICY. EACH TRUSTEE SHALL SIGN A RECEIPT INDICATING THE DATE THE CODE WAS RECEIVED AND ACKNOWLEDGING THAT THEY ARE RESPONSIBLE FOR READING THE CODE AND IS BOUND BY IT. TRUSTEES CAN SEEK CLARIFICATION OF THE CODE'S PROVISIONS FROM THE UNIVERSITY COMPLIANCE OFFICER. RECUSAL: A TRUSTEE MUST SELF RECUSE FROM A MATTER IF THE TRUSTEE HAS: A) ANY FINANCIAL INTEREST, DIRECT OR INDIRECT, THAT IS INCOMPATIBLE WITH THE DISCHARGE OF THE TRUSTEE'S PUBLIC DUTIES, OR B) ANY PERSONAL INTEREST, DIRECT OR INDIRECT, THAT IS INCOMPATIBLE WITH THE DISCHARGE OF THE TRUSTEE'S PUBLIC DUTIES. D. UNIVERSITY MEMBERS EXPECTED BEHAVIOR: NO EMPLOYEE SHALL HAVE ANY INTEREST, FINANCIAL OR OTHERWISE, DIRECT OR INDIRECT, OR ENGAGE IN ANY BUSINESS TRANSACTION OR PROFESSIONAL ACTIVITY, THAT IS IN SUBSTANTIAL CONFLICT WITH THE PROPER DISCHARGE OF THE EMPLOYEE'S DUTIES. E. ADDITIONAL OBLIGATIONS: TRUSTEE AND SENIOR ADMINISTRATIVE PERSONNEL HAVE A DUTY TO THE UNIVERSITY TO ALWAYS ACT IN GOOD FAITH, WITH THE CARE AN ORDINARY PRUDENT PERSON IN A LIKE POSITION WOULD EXERCISE UNDER SIMILAR CIRCUMSTANCES, AND IN A MANNER REASONABLY BELIEVED TO BE IN THE BEST INTERESTS OF THE UNIVERSITY. PERSONS OCCUPYING THESE POSITIONS OF TRUST SHALL COMPLETE AND SUBMIT, ON AT LEAST AN ANNUAL BASIS, A CONFLICT OF INTEREST DISCLOSURE FORM ("FORM"). THE FORM SHALL BE AMENDED FOR FREQUENTLY, AS NEEDED, WHENEVER THERE IS A MATERIAL CHANGE IN THE CIRCUMSTANCES OF THE REPORTING PERSON THAT WOULD MAKE THE FORM THEN ON FILE MATERIALLY FALSE OR MISLEADING. IN ADDITION, ALL TRUSTEES MUST AGREE AND SIGN A STATEMENT OF RESPONSIBILITIES ("STATEMENT") THAT WILL PROVIDE SOME GUIDANCE ON THE SPECIAL RESPONSIBILITIES ATTENDED TO THAT OFFICE. THE FORM AND THE STATEMENT MAY BE CHANGED FROM TIME TO TIME BY THE BOARD. Form 990, Part VI, Line 15a OFFICES & POSITIONS FOR WHICH PROCESS WAS USED & YEAR PROCESS BEGAN THE UNIVERSITY HIRES AN INDEPENDENT CONSULTANT TO REVIEW AND MAKE RECOMMENDATIONS FOR THE PRESIDENT'S COMPENSATION PACKAGE BASED OFF OF INDUSTRY, TRENDS, ETC. THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS DECIDES WHAT THE PRESIDENT'S COMPENSATION WILL BE AFTER REVIEWING THE CONSULTANT'S WORK AND RECOMMENDATION. Form 990, Part VI, Line 15b OFFICES & POSITIONS FOR WHICH PROCESS WAS USED & YEAR PROCESS BEGAN THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS AND APPROVES ALL SALARIES AND BASES THEIR REVIEW ON SALARY TRENDING AND OTHER COMPENSATION RELATED INFORMATION. THE PROCESS IS USED TO ESTABLISH COMPENSATION FOR THE FOLLOWING OFFICES AND POSITIONS: UNIVERSITY PRESIDENT VICE PRESIDENT OF ACADEMIC AFFAIRS VICE PRESIDENT OF CONTINUING EDUCATION AND STUDENT SERVICES VICE PRESIDENT OF BUSINESS VICE PRESIDENT OF ENROLLMENT VICE PRESIDENT OF UNIVERSITY ADVANCEMENT ASSOCIATE VICE PRESIDENT FOR TECHNOLOGY SERVICES UNIVERSITY GENERAL COUNSEL ASSOCIATE VICE PRESIDENT OF BUSINESS AFFAIRS DEAN OF BUSINESS DEAN OF ARTS AND SCIENCES DEAN OF EDUCATION AND SOCIAL SERVICES DIRECTOR OF THE CENTER FOR ONLINE LEARNING Form 990, Part VI, Line 19 How Documents are Made Available to the Public SAINT LEO UNIVERSITY WILL PROVIDE COPIES OF THE POLICIES AND DOCUMENTS UPON WRITTEN REQUEST. Form 990, Part XI, Line 9 Other Changes in Net Assets or Fund Balances Change in Value of Split Interest Agreements (547,489)